Monetary Policy, Bank Lending and Risk Management : the Turkish Case

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Prof. Dr. AHMET ŞENGÖNÜL

Tez Türü: Doktora

Tezin Yürütüldüğü Kurum: George Mason University, COLLEGE OF LIBERAL ARTS AND SCIENCES, İktisat, Amerika Birleşik Devletleri

Tez Danışmanı: Willem Thorbecke

Tezin Onay Tarihi: 2003

Tezin Dili: İngilizce

Özet:

This dissertation will study the role of bank lending in the transmission of monetary policy in the presence of liquidity, and foreign exchange risks and provide an evidence for the existence of bank lending channel in Turkey. The first chapter will give some structural information of the banking system and recent banking crisis in 2001 and the risks that have been accumulated in the balance sheets for the Turkish banks during the last decade. The second chapter uses a model and methodology of Kashyap and Stein (2000) in order to test for the existence for the bank lending channel in Turkey for the period of 1997-2001. The third chapter will develop a mathematical model that analyzes the implications of having foreign currency risk in banks’ balance sheet for the transmission of monetary policy.